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Tag: Education Trust

Trusts Explained for Immigrants

Posted on Sat Jun 15, 2019, on Trusts

From Our “Ask a Question” Mailbag: “I am an immigrant from China. I read your articles, and could you please write an article about Trusts Explained for Immigrants?” Trusts Explained for Immigrants. After living for a year in Beijing, spending several years in Europe and being married to a Korean […]

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Can I use my revocable living trust to form an education trust for my nieces?

Posted on Thu Jul 23, 2015, on Trusts

From our “Ask a Question” mailbag: I created a Revocable Living Trust to avoid probate with the Philadelphia Register of Wills, but I have decided that I would like to form a trust that would pay for my nieces college education. Can I do this using my Revocable Living Trust?

You can certainly form an Education Trust within the terms of your existing Revocable Living Trust. A Living Trust is divided into two main parts; the terms that apply when you are alive and the terms that apply after your death.

What I can do is draft an amendment to your existing Revocable Living Trust adding the Education Trust into the “what happens after your death” portion.

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Estate Planning Opportunities; Use Them or Lose Them!

Posted on Mon Sep 17, 2012, on Estate Planning

Only a little over three months remain to maximize estate tax and gift tax opportunities that are scheduled to disappear in 2013. There is still time, but if you are going to act you need to start working with your estate planning lawyer soon.

Never have the Gift Tax and Estate Tax exemptions been higher than they are currently. The Federal Estate and Gift Tax Exemptions are currently $5,120,000.00. If congress takes no actions, these exemptions fall to $1,000,000.00 in 2013. This change exposes to taxation an additional $4,120,000 to those who die or gift in 2013 vs. 2012, increasing the tax due by hundreds if not millions of dollars.¹

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What Our clients are saying

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Dylan. S

Peter provided outstanding advice and preparation of a will and trusts.

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Michael Patete

Surprisingly easy

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Bill

I met Peter soon after he started his practice in Philadelphia, PA. He and his team have always been there for me and my various inquiries throughout my life-changing events, corporate relocations. I have lived in various cities throughout the nation, I have never had a problem in contacting Peter or a member of his team. He and his office responds quickly and returns calls to me to fulfill my requests for information or to revise my estate needs while posing relevant thought-provoking questions that I need to consider to secure my future. One of Peter's best qualities is his ability to answer clients complicated questions in a simple way to ensure comprehension.

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Peter J. Gutekunst, CFP®

I've worked with and known Peter Klenk and his associates for years. They are highly professional, diligent and truly experts in their field. By focusing on just wills, trusts, and estates, Klenk law has experienced every angle of estate planning and applied that knowledge to help prepare our clients with thorough and comprehensive documents.

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Rachel Roney

Peter has done a great job with the estate planning for my father. He is very thorough and patient as we, the family need to make decisions.

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